The usual options after 50
Most older adults end up choosing among three kinds of policy.
- Final expense whole life: a small permanent policy for funeral and end-of-life costs
- Guaranteed issue whole life: no health questions, with a waiting period before the full benefit applies
- Term life: still available at many ages if you need a larger amount for a limited time
What changes with age
Insurers set maximum issue ages, and the longest terms stop being offered first. Premiums are based on your age when the policy starts, so the same coverage generally costs more each year you wait.
Protect yourself when shopping
Ask whether the premium is fixed for life, whether the benefit ever decreases and whether there is a waiting period. Be cautious of anyone who pressures you to decide on the first call. A legitimate agent will send policy details in writing.
Common questions
Am I too old to get life insurance?
Many insurers issue final expense and guaranteed issue policies up to about age 85, though limits vary by company and state.
Do I need a medical exam?
Often not. Many policies sold to older adults use health questions only, and guaranteed issue policies ask none.
This page is general information, not insurance, legal or tax advice. Policy terms, eligibility and pricing vary by insurer and state. A licensed insurance agent can explain the specific products they offer.